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005.01.24-2.00. Definitions

AR ADC 005.01.24-2.00Arkansas Administrative CodeEffective: May 19, 2018

West's Arkansas Administrative Code
Title 005. Department of Education
Division 01. Division of Fiscal & Administrative Services
Rule 24. Rules Governing Education Service Cooperatives
Effective: May 19, 2018
Ark. Admin. Code 005.01.24-2.00
005.01.24-2.00. Definitions
Currentness
2.1 “Capital Outlay Expenditures” means land, land improvements, buildings, infrastructure and equipment having a unit value of $1,000 or more and a life expectancy of more than one year.
2.2 “Declining Balance” means the current year expenditures exceeding current year revenues.
2.3 “Education Service Cooperative” means intermediate service units in the state's elementary and secondary education system established by the State Board of Education pursuant to Ark. Code Ann. § 6-13-1001 et seq.
2.4 “Fiscal integrity” means the education service cooperative's ability to comply completely, accurately, and timely with financial management, accounting, auditing, and reporting procedures required by state or federal law and regulations.
2.5 “Material” means that the act, omission, or violation jeopardizes the fiscal integrity of the education service cooperative.
Source: Ark. Code Ann. § 6-13-1027

Credits

Adopted July 16, 2012. Amended March 28, 2016; May 19, 2018.
Current with amendments received through February 15, 2024. Some sections may be more current, see credit for details.
Ark. Admin. Code 005.01.24-2.00, AR ADC 005.01.24-2.00
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